Blocks continued their descent, giving up another $0.0025 to settle at $1.8375 per pound, with four loads exchanged. Barrels, on the other hand, rose slightly to $1.8675 per pound, adding $0.0075, with one lot sold. Meanwhile, butter slid to $2.6700 per pound, down 3.75 cents, with zero loads sold.
Class III milk futures ended the week in the green. November futures settled at $20.25 per hundredweight, up 13 cents, while Q1 prices came in at $19.68 per hundredweight, 10 cents higher. The nearby Class IV contract was unchanged at $21.06 per hundredweight and Q1 futures settled at $21.25 per hundredweight, up a penny.
The October jobs report fell well under expectations, with payrolls expanding by 12,000 positions, compared to calls for 100,000. Unemployment held steady month to month at 4.1%.
Ever.Ag - The risk of loss trading commodity futures and options can be substantial. Investors should carefully consider the inherent risks in light of their financial condition. The information contained herein has been obtained from sources to be reliable, however, no independent verification has been made. The information contained herein is strictly the opinion of its author and not necessarily of Ever.Ag and is intended to be a solicitation. Past performance is not indicative of future results.
